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stainless steel news article error

  1. 3,794 Posts.
    Hi guys,

    Stainless steel news had this to say 13-1-2005

    * Yieh is reporting Posco in Korea has announced it will raise prices in February and slash production of 300 series stainless due to the high cost of raw material.


    That information is wrong!

    This is the Yeih article 13-1-2005;

    Subject: POSCO to raise February stainless steel exportation price
    Korea domestic stainless steel prices will lift to USD2660/mt due to US dollar depreciating and Nickel price up. POSCO will raise its export price in February. In addition, the recent stainless steel HR products supplies tend to tighten and POSCO must supply its two subsidiaries of Zhangjiagang and the Qingdao companies raw material. Therefore, anticipated POSCO will only be able to provide a few 300 series stainless steel to its general customers. (Landy Jan. 13)
    Reporter: Landy


    Stainless Steel News is suggesting Stainless PRODUCTION is being slashed when infact it is SUPPLY that is being slashed due to excessive demand of 300 series stainless steel.

    Nickel is still in demand!

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